File photo by The RepublicanSolar panels on the roof of the Southwood Hall at Western New England College, an eco -freindly residence hall.

By KYLE ALSPACH<br>Boston Business Journal
Evergreen Solar Inc. (Nasdaq:ESLR) said its operating loss for the fourth quarter reached $399.1 million as a result of the decision to close its factory in Devens

The Marlborough-based solar technologies firm said the loss includes $377.5 million from the inventory write-down and the impairment of assets connected to the closure, scheduled to be complete by the end of March.

The decision will lead the company to cut 800 of its 925 Massachusetts jobs, Evergreen has said.

“Our Devens employees exceeded many of management’s expectations and for this, they have our deepest appreciation,” CEO Michael El-Hillow said in a statement Wednesday.

Chinese manufacturers have been rapidly driving down solar panel prices, thanks to low-cost labor and support from the Chinese government, and Evergreen has said it’s unable to compete.

The company had received at least $31 million in direct state support in connection with the opening of the $430 million Devens plant in 2008.

Evergreen now plans to focus on becoming a low-cost supplier of solar wafers, a building block of photovoltaic panels. The company says its “string ribbon” silicon wafers cost 40 percent less to produce than wafers produced by traditional processes. Evergreen will continue producing wafers at its plant in Wuhan, China, which opened last year. 